What Is Komodo?

The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol.

Komodo presents its decentralized ICO platform (dICO). This technology guarantees coin developers to launch a transparent coin offering while maintaining investors’ privacy through Komodo’s built-in privacy features. For the first time in crypto history it’s possible to issue and distribute native cryptocurrencies without a trusted third party.

So a dICO doesn’t differentiate itself from other ICOs by decentralization only, it also needs Komodo Platform’s Jumblr technology to guarantee complete privacy for all ICO parties. Furthermore, dICOs on Komodo Platform don’t require high fees as each asset chain is an independent blockchain secured by dPoW, enabling all dICO transaction fees to be paid with the dICO coin.

Komodo Platform’s strategic partner Monaize is going to be the first to use this revolutionary technology. Their ICO will be the first of its kind and will also put Komodo Platform in the spotlights.

What happens when the leading innovators in banking meet up with the experts in blockchain?

Monaize is fully onboard with the spirit and vision of Komodo. Together we have brainstormed a strategic roadmap for rapid cryptocurrency adoption. Furthermore, Monaize will be launching the very first ICO on Komodo Platform before the end of this year.

Monaize is an e-banking platform that understands where the banking industry is heading. Therefore they are positioning themselves for the coming transition period. They will use Komodo as their gateway to blockchain and bridge the two worlds together.

Monaize will be the first banking service to provide blockchain based products and services for their client base.

PLUG & PLAY (WHITE LABEL) SOLUTIONS

Komodo Platform provides a full blockchain kit for ICOs and cryptocurrency minting. The new token will be fully compatible with our entire ecosystem and it will continue to inherit all the features we develop.

DECENTRALIZED ECONOMY

The platform is modular and as such it is easy to contribute. Developers will grow the ecosystem by building DAPPs on top of our platform. The network effect will be enormous since all modules are compatible with each other. The ecosystem will erase borders and connect the society.

Getting Started With Komodo

Komodo started as a privacy coin, evolved into a platform, and is now a growing ecosystem. When looking at our roots, one can see how starting as a privacy-based cryptocurrency fueled our long-term aim to provide the tool of Privacy to entrepreneurs. The first steps of creating our ecosystem are underway as we work with our official partner, Monaize, to launch their blockchain on the Komodo platform.

A Brief History of Komodo

The origins of Komodo as a privacy coin reveal the strength of our long-term potential. Originally, blockchain projects were not private; if a personal wallet was identified on a blockchain network, a simple data analysis could trace much, if not all, of the owner’s behavior.

The Komodo Platform focuses on providing complete end-to-end blockchain solutions for developers of any level and any industry. It is simple yet powerful, offering customized blockchain solutions that are easy to deploy, and configurable to meet your needs.

Our vision is to build a robust ecosystem of partners and developers, where together we create an environment that accelerates anyone’s journey into blockchain technology.

Flexible

Developers who build on the Komodo platform begin with an independent blockchain of their own, which is then connected to the Komodo ecosystem. Because your blockchain is entirely self-contained, you are ultimately not limited by the Komodo parent chain. As the Komodo Platform is modular, developers and partners have the freedom to choose which Komodo technologies they want to enable.

Secure

Komodo’s innovative dPOW (delayed proof of work) provides a security layer that creates backups of your blockchain’s data and notarizes it to Bitcoin’s blockchain, providing even the smallest of blockchains with Bitcoin-level security. The platform also offers optional privacy protection through the integration of Zero-Knowledge Proofs.

Simple

Their goal has always been to drive the mainstream adoption of decentralized blockchain technologies. Komodo offers the technology, support, and services to help developers and partners rapidly deploy the right blockchain solution for them.

Komodo Platform is expanding into an entire ecosystem, starting with our strategic banking partner Monaize. On November 10th, we will perform the world's first Decentralized ICO ("dICO"). Future entrepreneurs choosing to build on the Komodo platform will receive an entire blockchain package, capable of performing a decentralized crowdfund and acting as an independent blockchain.

Up until half a century ago, any normal person would balk at the idea of publicly displaying one’s purchasing history; consider for instance how difficult it would be to start a new business if your competitors could see your purchases. It is only recently, with the advent of The Internet, that some people have forgotten the value of privacy.

There are many people, however, who feel differently, and among them were a large group of early blockchain developers who decided to steer blockchain technology in a privacy-centric direction.

One such team of developers is Zcash, and the method they chose for creating a privacy coin is our favorite. They coded what can be called Zero-Knowledge Proofs. The unique aspect that we admire is that it allows for a blockchain that is both public and decentralized, and yet users can elect to obfuscate their transaction details, thus leaving “Zero Knowledge” of their exchanges.

The Zcash team freely contributed their code to the open-source community, and this marks the starting point of the Komodo journey.

At the outset of our project we adopted Zero-Knowledge Proofs, right where Zcash left off. By incorporating this into Komodo, we empowered our new platform with complete privacy. As an added bonus, Komodo also retains the ability to behave just like a privacy coin, similar to Zcash and others, but Komodo can also do more.

How Coins and Platforms Differ from Each Other

Let’s pause momentarily to explain the nature of blockchain platforms and how they differ from coins. A coin simply transfers a stored agreement of value. For instance, sending one ZCash coin today is equivalent to sending ~€200 euros.

A “platform,” on the other hand, does not necessarily have to be a coin for transferring value, but rather, it is a hub that connects a network of many different blockchains together. In other words, a platform can serve as the “heart” of a pathway of other blockchain projects, which are themselves more like “veins,” connecting different markets and peoples, etc.

One reason a blockchain “vein” might want to link to a platform “heart” is that the platform can endow its members with unique advantages. The Komodo platform provides several features; for today we have shown how Komodo can protect businesses with the same level of Zero-Knowledge Proofs as other privacy coins, but you can learn more about Komodo’s many other features here. Privacy is but one example of how the Komodo platform can empower entrepreneurs as we work to establish an ecosystem.

The Burgeoning Komodo Ecosystem: Our Next Step

An ecosystem is a word that describes a network of many individual blockchain projects working together to serve a wide audience of users. For Komodo, it is important to establish an ecosystem because we are not trying to solve every problem ourselves. Instead, we are working to empower creative entrepreneurs to solve problems together.

Our first major ecosystem partner is Monaize, an e-banking platform that is leveraging blockchain technology in the financial sector. Among many problems they are working to solve, one is the difficult process of purchasing any cryptocurrency other than Bitcoin; the current process is wrought with inefficiencies, high fees, manipulation, and always the peril of human error.

The Komodo platform provides many features that fuel Monaize’s long-term goals. Within the next few weeks, we are performing something that is entirely new: the first decentralized ICO in history, and you can learn more about our partnership with Monaize in this previous blog post.

Once the decentralized initial coin offering with Monaize concludes, we will then bring our next partner into our growing ecosystem. While the underlying technology that supports Komodo is complex, the actual process for a common user is becoming simpler by the day. The Komodo project is forming what we hope will eventually be a vast ecosystem, serving many different markets and peoples.

As members of the team we are now traveling the world, speaking at conferences everywhere, evangelizing our open-source platform, and meeting new entrepreneurs who express their interest. We hope that the core values we adhere to, including Privacy, will provide a meaningful contribution to the world as we play our part on the blockchain stage.

How To Get A Komodo Wallet?

Swing Wallet

Agama Wallet

Download the latest Agama release from our website

Double click the installer to start the installation process

Follow the instructions

Agama Wallet's exchange will be designed with a normal user in mind, and thus offers a simple user interface only.

The coin exchange is done through 'atomic swaps', which means that the coins are exchanged directly from peer to peer, just like normal cash. They do not use proxy asset, but the real coins, just like our multiwallet.

Komodo Resources

How To Buy Komodo?

Currently to purchase Komodo you must own Bitcoin. Not to worry! Soon, Komodo users will be able to purchase with fiat directly. However, until then, this guide will help you understand the simplest way of buying KMD on Bittrex.

You can buy bitcoins from either exchanges, or directly from other people via marketplaces. You can pay for them in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even with other cryptocurrencies, depending on who you live and where you are purchasing.

Next, you will need a place to store your new bitcoins. In the bitcoin world, they're called a 'wallet' but it might be best to think of them as a kind of bank account.

Depending on the security levels you want, different wallets will provide different levels of security. Some act like everyday spending accounts and are comparable to a traditional leather wallet, while others tout military-grade protections.

The main options are: (1) a software wallet stored on the hard drive of your computer, (2) an online, web-based service or (3) a 'vault' service that keeps your bitcoins protected offline or multisignature wallet that uses a number of keys to protect the account.

They all have different vulnerabilities but are fairly safe to use: if you store bitcoins locally on your computer, make sure you back up your wallet regularly in case the drive becomes corrupted; and online web wallets employ varying degrees of security against hackers, from quite good (multi-factor authentication) to quite poor (ID and password).

There are several methods to buy BTC in the USA. The simplest way is to buy Bitcoin with cash. Currently a service known as Bitquick.co is a reliable way of purchasing Bitcoin with cash. The process is simple. You select an order, make a cash deposit to the seller's account, and in 3 hours you get your BTC.

Buying BTC at Bitquick.co

1. Select an order from the current order book, enter your email address and submit.

2. Pay the described sum in cash (physical bills) to the account shown on the confirmation page by going to any local branch of the sellers bank and filling out a deposit slip. How to fill out a deposit slip

3. Upload the receipt to link that is provided in your email.
We send you the coins typically within 3 hours of the funds being confirmed by the seller.

4. Make certain that your BTC address is correct before finalizing the purchase. Always check the first and last 7 characters of your BTC address to make sure they match. This is a good rule of thumb when sending Bitcoin.

You are now one step closer to buying Komodo. At this time, Bittrex has the highest KMD volume. Therefore, it is the best exchange to purchase KMD/BTC pair.

1. Navigate to https://www.bittrex.com

2. Open an account

3. Find your Bitcoin deposit address:

4. Send your Bitcoin to your Bittrex address. You must wait for 2 confirmations in order to access your funds. Once your Bitcoin has been confirmed, you will see your balance when you navigate to the wallet tab.

Trading your BTC for KMD

Now that your Bittrex account reflects your BTC, you are ready to purchase KMD.

1. Navigate to Markets tab on Bittrex. Type Komodo on the search bar and click the KMD option.

2. Scroll to the Trading window and on "Buy Komodo" tab you choose the type of bid and click BUY KOMODO.

3. After order confirmation, your KMD balance can be seen in your wallet.

Once you become a Komodo holder you have serveral wallet options. Agama and the Komodo Swing Wallet are operational for Windows and MAC. Additionally, you can opt-out for an offline wallet to keep your KMD extra secure. Below you will find all the links to help you decide which wallet is a better choice for you.

It is important that you keep your KMD in a wallet that you control. This guarantees that you will receive the 5% interest and airdrops that KMD holders enjoy. If you need more help installing our wallets, please join Slack and ask for help at the #support channel. We have support staff 24/7 to answer any inquiries you might have.

Final Step: Withdrawing KMD from Bittrex to your own wallet

2. After a few minutes, you can check your receiving address on the Komodo block explorer to verify the transaction has been initiated. Bittrex takes a couple of minutes to approve a withdrawal. However, the explorer is always a great tool to verify that transactions have gone through.

How To Earn Komodo?

Komodo Platform is a leading innovator in the crypto tech industry and our solutions will provide you with full capabilities to develop all manner of blockchain-based services.

In addition, we’re currently developing a wide range of other technology modules that will be ready for your use once complete. Part of our vision is to become a language-agnostic platform.

White-label products

No headache about setting up the essentials. We provide a white-label wallet and block explorer.

Robust technology

Your project will continue to inherit all the technology we develop in addition to the already developed modules.

Independent blockchain

As the master of your own chain you’ll maintain complete freedom to make all development decisions.

Marketing channels

We have a large and ever-growing community of enthusiastic crypto followers. We only work with quality projects and our indirect recommendations can be decisive for potential investors.

Consultancy services

As our partner you’ll have access to our blockchain engineers and extensive industry contacts. The whole blockchain world is very new and rapidly changing, so having access to some of the major players is a huge plus.

Secure crowdfunding

Decentralized technology is extremely secure and reliable, and our dICO solution is no different. Your token will be instantly available and tradable on our decentralized exchange.

Where To Spend Komodo?

They can only host one dICO at a time and therefore prioritise the applications while giving maximum focus to each one. At the same time, maximizing the value we generate for our platform is important to us.

The businesses that could benefit from blockchain technology are very diverse, so we’re looking for partnerships across a variety of industries. We’re seeking to foster collaborations across the board.

Their first partner: Monaize

Monaize is an e-banking platform that utilizes Komodo Platform in their efforts to integrateblockchain payments into their banking application. Through this strategic partnership we have a momentous opportunity to bridge the blockchain and banking world.

What Is Komodo Mining?

Komodo is a privacy-centric cryptocurrency that combines the anonymity of ZCash with the security of Bitcoin. Using a new consensus mechanism developed by the Komodo team, delayed Proof of Work, Komodo blocks can be notarized using the Bitcoin blockchain.

KMD is issued through an Equihash-based PoW protocol, and new block information is inserted on the BTC blockchain by the DPoW notary nodes by creating a custom transaction. This system ensures that in order to "hack" komodo, one would have to rewrite both chains.

Step 8: Click "Finish" to close the setup after the installation is complete

Part 2 - Create a new wallet

Step 1: Open Iguana

Step 2: Click "New wallet"

Step 3: Choose "Iguana" as the wallet type

Step 4: Copy your seed and store it somewhere safe. If you lose this seed, your account can not be recovered

Step 5: Paste the seed to ensure that you have saved it properly

Step 6: Click "Register"

Step 7: Confirmed that you have backed up your wallet by clicking "Yes"

Part 3 - Choose a mining pool

You will also need a mining pool to direct your hashing power to. You can compare features and reviews on multiple KMD pools here. We are going to choose Supernova pool for this guide, but it will work with any Komodo Pool

Part 4 - Create a pool account

Supernova requires us to register an account in order to start mining. Other pools may not require you to do this.

We are now going to set our payout address (the one we got at the start)

Step 7: Click "My Account"

Step 8: then click "Edit account"

Step 9: On the "Payment Address" field, enter your KMD address

Step 10: Click on "My Workers"

Step 11: Enter the name and password of your worker and click "Add New Worker"

Now that you have both your wallet and pool at the ready, it's time to get digging.

Part 5 - Mine Komodo with your CPU

For the CPU part of this guide, we are going to use a forked version of the Nicehash miner. This version works for CPU and GPU but we're going to use Claymore miner for better resultswhen mining with GPU

Step 1: Click here to go to the download page

Step 2: Choose the version that best fits your O.S and click on it

Step 3: Extracted the newly downloaded .zip file

Step 4: Now create a new txt file

Step 5: Open it and enter the following command "nheqminer -l kmd.suprnova.cc:6250 -u account.worker -p x"

We're going to replace "kmd.suprnova.cc:6250" with our correct server. In this case, we're using Supernova, so we'll leave it. We'll also replace "account.worker" for our account name and worker created, so in our case: "CryptoCompare.Rig1". Replace "x" with the correct password

Step 6: Click "Save as"

Step 7: and save the file as "Start.bat" (1), change the type to "All types" (2), then click "Save" (3)

Step 8: Double click the new Start.bat file

and that's it! You're now mining with your CPU.

You can choose the number of threads the cpu uses by adding "-t 6" (6 being the number of threads) to the command. You can also mine with your GPU using this miner, but we're going to use Claymore miner for better results. You can use both at the same time.

Part 6 - Mine Komodo with your GPU

On the GPU side, we are going to use the Claymore miner. Claymore has a long-standing reputation for optimizing miners and this miner speaks for it. It improves the hashing rate considerably and that is why we are going to take the time to download and use this miner as well.

The genoil miner only works for pool mining and with AMD graphic cards. This miner charges a 2.5% developer fee. Every hour the miner mines for the developer during 90 seconds. However, the performance increase is well worth the fee charged. If you don't agree with the dev feem, don't use this miner

Catalyst (Crimson) 15.12 is required for best performance and compatibility. You can get very bad results for different drivers version, or miner can fail on startup.

For multi-GPU systems, set Virtual Memory size in Windows at least 16 GB:

Replace "stratum+tcp://kmd.suprnova.cc:6250" with your pool's server. In our case, the server remains the same. Replace "Account" with your pool account. for us it's "CryptoCompare. Lastly, replace "YourWorkerName" with the name you gave your worker. If the worker has a password, you can also replace "x" with your password.

If you followed all the steps, you should see something like this:

That's it! Enjoy your KMD coins, which you can now spend anonymously through Iguana.

Latest Komodo News

Komodo ICO Site is Back Online: The Final Schedule

They are happy to announce that the ICO/SWAP site is back online. The total time spent on the website fix was somewhere between 100 and 200 hours. The final milestone to get it online involved the collaboration of 4 different people.

Command Line JUMBLR Released

As the barterDEX test team is gathering info on a lot of new coins, there was a lull in bugs found. Instead of just waiting around doing nothing, I decided to put JUMBLR inside komodod.

That way there are less moving parts, and only native komodod is needed for JUMBLR. The JUMBLR core will be compatible with the previously described passphrase based address management for the GUI to implement.